HomeMy WebLinkAboutCity Council Resolution 1990-023CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City
Council of the City of Plymouth, Minnesota was held on the 2nd day of
January 1990. The following were present:
Mayor Bergman, Councilmembers Helliwell. Ricker. VaGilin„ And 7ir,,v
The following members were absent: None
Councilmember Vasiliou introduced the following Resolution and moved its
adoption:
RESOUMION NO. 90— 23
APPOINTING OFFICIAL DEPOSITORIES
FOR CITY FUNDS FOR 1990
WHEREAS, State Statutes require that the City designate general depositories
for City monies;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMWI'Hi, MIN NESCTA, that First Bank Plymouth be designated as the official
general depository for 1990 for the City of Plymouth's operating checking
accounts;
BE IT FURTHER RESOLVED that the following be designated as official
depositories for the City's temporary investment program for 1990; the First
Bank System, Norwest Banks, the American National Bank of St. Paul, the Bank
Wayzata, F 6 M Marquette National Banks, First National Bank of Wayzata and
the Firstar MetroBank;
BE IT FURTHER RESOLVED that investment counselors and institutions may be
utilized during the 1990 year for the acquisition of commercial paper,
banker's acceptances, and governmental securities;
BE IT FURTHER RESOLVED that the designation of the foregoing depositories are
contingent upon receipt by the City of Plymouth of evidence of sufficient
collateral in the amount and kinds as required by the State Statutes.
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The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur and upon vote being taken thereon, the following
Voted in favor thereof: Mayor Bergman, Councilmembers Helliwell,
Ricker, Zitur and Vasiliou 4
The following voted against or abstained: None Ij
Whereupon the Resolution was declared duly passed and adopted.